THE IMPACT OF COMMERCIAL BANK ON SOCIO-ECONOMIC DEVELOPMENT
TABLE OF CONTENTS
Table of content
CHAPTER ONE: INTRODUCTION
Background of the study
Statement of the problem
Objectives of the study
Significance of the study
Scope of the study
Definition of terms
Review related to literature
Types of bank account
Means of payment in the banks
Function of commercial banks
The roles of commercial banks in economic development
Problem of banking in Nigeria
Population of the study
Sample of the study
Administration of the instrument
Results and discussion
SUMMARY, CONCLUSION AND RECOMMENDATIONS
- BACKGROUND OF THE STUDY
The history of bank is dated back to the early period of civilization Lawel (1989) said that the earliest English banks development started from seventeenth century. The banking arose from the activities of goldsmiths who had facilities such as safes for safe-keeping of valuables, merchants and others. People who had valuable things like precious metal such as gold and solver which were used as money deposited them in exchange for the function of commercial banks. For acceptance of deposit goldsmiths charge fees for performing the function of the merchants the development of banning in Nigeria could be linked with the age long traditional ways of keeping money which was called “Isusu or Asusu” among the rural folk. This is a way by which people pool their resources together to exchange thrift. Also, this is called traditional banking (Lawal, 1981). Moreover, the money contributed was only enjoyed by the contributors alone.
This money can be lent by the neigbouring people who will pay interest on it. This system is still in operation in today’s modern system of banking (Lawal, 1981).
- Statement of the problem
It is being experienced in Ekiti state that there are some problems that impedes banks (Enterprise) from contributing effectively to economics development of Ikere local government.
This study is being carried out to confirm whether the problems facing the commercial banks in the state include the following factors:
- Too much intervention by the government.
- Unwillingness of the people to keep their money in commercial banks but prefer to join co-operative society for save-keeping of their income.
- Shortage of manpower.
- Rigid loan condition.
- Objectives of the study
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